Trust Investments

Cleena Christian (Querist) 14 December 2010 This query is : Resolved
Hello.. We are managing investments of different public as well as pvt trusts.. Would like to know whether these trusts can make investments under monthly income plans offered by various mutual funds.. And are they notified under the sections of income tax. Kindly guide

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Devajyoti Barman (Expert) 14 December 2010
Yes if that is in furtherance of the Object of the said trusts.

malipeddi jaggarao (Expert) 15 December 2010
Yes, well advised by Mr.Barman. And the trust deed shold spell out the power to invest moneys for the purpose of carrying out the objects of the Trust in accordance with the provisions of Income Tax Act 1961 and rules made here under from time to time.

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